TL;DR: A new book explores how previous Indian governments approached public sector reform and contrasts this with the current regime's push for privatisation. It highlights policy shifts, lost opportunities, and growing corporate influence. 📚💸
📖 A Look at the Book’s Focus
Sheela Dubey’s The Public Sector and Privatisation in India takes readers on a journey through India's history of public sector management. The book digs into the past to uncover why central public sector enterprises (CPSEs) have been a hotbed of debate for decades. 🏢⚙️
📌 Key Highlights: 1️⃣ In 2010, a Planning Commission panel under SK Roongta made 40 recommendations, including boosting autonomy and increasing R&D in CPSEs.2️⃣ The report pushed for listing more CPSEs and privatizing loss-makers but saw no major government action. 🚫🛑3️⃣ The UPA government hesitated to privatize even when it had fewer coalition constraints.
🏢 The Modi Era’s Aggressive Privatisation 📉
Dubey’s analysis critiques the shift in strategy under the current BJP-led government, which emphasizes aggressive #Privatisation. From selling Air India to plans for LIC’s IPO, the regime has opened floodgates for private players. 💸✈️
⚡ What's Driving It?
Aiming for fiscal stability through disinvestment.
Cutting losses from inefficient public enterprises.
However, the book questions whether this trend neglects the public welfare legacy of CPSEs. 🤔🗳️
🌍 Impact on Public and Economy
Privatisation affects everyone! Critics argue it risks:
Job Security: Thousands in CPSEs could face unemployment. 😔👷♀️
Public Welfare: Services might become costlier as profit motives take over. 💸
On the flip side, proponents see:
More efficiency in services. ✅✨
A stronger private sector driving innovation. 🚀
🛠️ Why This Matters
India's public sector has long been the backbone of rural development and affordable services. With rising inequality, Dubey’s book is a timely call to reassess whether these changes benefit the majority or just a wealthy few. 🌾💬
What do you think about #Privatisation in India? 💭 Drop your thoughts below! 👇
